JoPACC Releases Its 2023 Payment Systems Report

Jordan Payments and Clearing Company (JoPACC) has announced its 2023 payment systems report, detailing the performance of its suite of payment systems, including the Instant Payment System “CliQ”, the Mobile Payment Switch “JoMoPay”, the Electronic Bill Presentment and Payment System “eFAWATEERcom”, the Automated Clearing House “ACH”, and the Electronic Cheques Clearing Unit “ECCU.

The report highlights significant growth across all JoPACC payment systems compared to the previous year, with a total of 126.87 million transactions processed in 2023, amounting to 69.34 billion Jordanian dinars. Notably, CliQ stood out by registering the highest growth rate this year. The data shows a remarkable surge in CliQ transactions, with a 327.6% increase in the number of transactions and a 279.4% rise in their value.

This year, JoMoPay, Jordan Mobile Payment Switch, has registered 2.16 million mobile wallet users. Moreover, the report highlights a noteworthy trend in gender inclusivity within mobile wallets; the percentage of females utilizing mobile wallets has risen by 9% compared to the previous year, with females now constituting 47% of the total mobile wallet users in Jordan.

Parallel to the success of JoMoPay, the Electronic Bill Presentment and Payment System (eFAWATEERcom) also saw an expansion in its user base, with the number of users rising to 4.095 million.

The Automated Clearing House (ACH) reported a 1% increase in the average salary transactions executed in Jordanian dinars, reaching an average of 528.2 Jordanian dinars in 2023. Meanwhile, the Electronic Cheques Clearing Unit (ECCU) processed a total of 6.86 million cheques, amounting to a total value of 40.99 billion Jordanian dinars,

It is worth noting that JoPACC assumed management of the Electronic Cheques Clearing Unit (ECCU) and Automated Clearing House (ACH) systems in the first quarter of 2023. JoPACC releases monthly, quarterly, and annual reports on these systems, providing comprehensive insights into user demographics, transaction details, growth trends, and other key indicators. These reports serve as valuable resources for statistical and economic research in financial inclusion and financial technology (Fintech). JoPACC also offers tailored reports to meet the specific research requirements of local and international academic and financial institutions.